Harmonized code or HS Code is an inevitable aspect within the import export deal. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Its used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import function. It is an eight digit code which has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a unique ID assigned to a particular trading product, which is simply by more than 200 countries across society.
dgft IEC Registration Online India India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, along with that is a number of such codes classified under 21 sections. The 21 sections include Animals & Animal Products; Vegetable Products; Animal or Vegetable Fats; Prepared Foodstuffs; Mineral Products; Chemical Products; Plastics & Rubber; Hides & Skins; Wood & Wood Products; Wood Pulp Products; Textiles & Textile Articles; Footwear, Headgear; Articles Of Stone, Plaster, Cement, Asbestos; Pearls, Precious Or Semi-Precious Stones, Metals; Base Metals & Articles Thereof; Machinery & Mechanical Appliances; Transportation Equipment; Instruments – Measuring, Musical; Arms & Ammunition; Miscellaneous; and Works Of Art. Each of these 21 sections is further separated into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code regarding his product in all of the forms along with important paperwork that must be filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in experience with the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of products. The list presents the entire product coding with variety of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the online world with the internet data manufacturers like Infodrive Of india. Besides providing an end HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s names.